Why banks are investing heavily in their financial crimes intelligence units
22% of banks have faced penalties of $1 billion or more
Money launderers and organized crime rings adapt quickly, so banks need to be smarter and more agile than ever. And according to research sponsored by SAS, they plan to be. Out of 120 banks surveyed, 98 percent say that fighting organized crime is a top priority.
With consequences from tarnished reputations and noncompliance penalties reaching into the billions, banks are rising to the challenge by investing heavily in staff and technologies to run their financial crimes intelligence units (FCIUs).
In this on-demand webinar, we’ll delve into new research results and provide expert advice on how your organization can strengthen its defenses against increasingly sophisticated crime threats.
David Stewart, CAMS
Director, SAS Financial Crimes and Compliance
Stewart is responsible for driving product management and supporting the marketing of SAS' financial crimes and compliance solutions in Canada, Latin America and the United States. He works closely with financial services customers, regulatory agencies, research and development, and implementation teams to deliver industry best practices for behavior detection and complying with anti-money laundering and fair banking regulations.
Senior Editor, Longitude Research
O’Connor specializes in producing evidence-based thought leadership research and content for financial services clients around the world. One of his key areas of interest is the finance industry’s approach to improving its resilience by combating financial crime.